Non-residential construction spending drops

Spending on non-residential construction projects dipped in the third quarter of this year after four consecutive months of rising investment.

Revised data released today by Statistics Canada shows there was $311.5 million spend on industrial, commercial and institutional construction projects during the third quarter. That was a decline of 1.1 per cent from the second quarter total of $315 million.

Despite the decline, spending for the first nine months of 2012 was still up a healthy 14.5 per cent from a year earlier — $924.1 million versus $806.9 million.

Nationally, spending on non-residential projects in Canada was essentially unchanged from the second to third quarters, at $12 million, and up 0.5 per cent for the first nine months — $35.9 billion versus $35.7 billion, Statistics Canada said.

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